This morning’s jobs report highlighted a fairly quiet week in economic releases. The report came in a positive fashion to what was expected. This led to a sell-off of mortgage backed securities and led to pricing being set back a bit from where we were yesterday at this time.

Bonds initially opened up this morning but have been recently selling off ahead of the $35 billion government auction of 5-year securities. In economic news, home prices dropped more than forecasted to .8 percent from October 2009, and the posted drop in prices is the biggest year-over-year decline since December…